After rallying for three days, gold price drops by Rs700 per tola in local market

Gold prices fell both globally and locally on Tuesday, with the price of 24-carat gold per tola decreasing by Rs700.

Now selling at Rs275,000 compared to Rs275,700 on the previous trading day. The price drop follows three consecutive days of increase in gold rates in the local market.

The price of 10 grams of 24-carat gold also dropped by Rs600, settling at Rs235,768, while the price of 22-carat gold per 10 grams fell to Rs216,121 from Rs216,671.

Despite the decline in gold prices, silver rates remained stable. The price of silver per tola held at Rs3,050, while 10 grams of silver remained unchanged at Rs2,614.88.

In the international market, the price of gold per ounce dropped by $6, with the new global rate standing at $2,653 compared to $2,659 on the last trading day.

This decline in gold prices follows the global trend, reflecting adjustments in the international bullion market. However, silver prices showed no change locally, maintaining stability.